Gold has been a universal sign of wealth for thousands of years across varying civilizations. Dating from ancient cultures to today, gold has been used to create jewelry, plates, cups, vases and many other ornate vessels.
Early societies equated gold with gods and rulers as they associated gold with power and beauty. This is easy to prove, as King Tut’s house was described as a House of Gold. The wisemen presented baby Jesus with three gifts- one of which was gold. Even today, gold is offered to Indian deities and the Indian Hindu calendar has days that are considered favorable to buy gold. The most early forms of money were made of gold, and the United States was on the gold standard, where the U.S. dollar was readily convertible to gold until August 1971! Gold also has numerous industrial uses and is an integral part of many high technology components. Recently gold has gained popularity as a mainstream investment vehicle. There are many forces driving both the supply and demand for “gold” and reasons an investor would choose to invest in this precious metal.